Agricultural income - Urgent
This query is : Resolved
Reeji Rakesh
(Querist)
21 June 2008
Whether there is any limit for agricultural income shown in individual's total income statement?
What are the documents to be needed to shown agricultural income?
And please tell the calculation also. Its urgent please help me.
What are the documents to be needed to shown agricultural income?
And please tell the calculation also. Its urgent please help me.
nilesh gupta
(Expert)
21 June 2008
there is no limit prescribed under the act. u can declare any amount as a agriculture income if u have.
under the I T Act, no document prescribed for this,but u hav to collect sale parchi (Called Mandi Parchi if sell through Mandi Samiti)or document showing the transaction .
generall 40% of total receipts are to be taken for expenses in the practice.
otherwise actual Receipt & Payment account can be made.
under the I T Act, no document prescribed for this,but u hav to collect sale parchi (Called Mandi Parchi if sell through Mandi Samiti)or document showing the transaction .
generall 40% of total receipts are to be taken for expenses in the practice.
otherwise actual Receipt & Payment account can be made.
Reeji Rakesh
(Querist)
21 June 2008
21 June 2008
There is no time limit as such.. the details should be filed along with the return filed..
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